>> is jamie dimon finally said enough, i can't wait anymore.give it to me. >> they had the goods on him. they first offered $1 billion, the justice department said $23 billion, they settled on $13 billion. we came out of shareholder pockets. >> that's the important point for tomorrow's investor day. now the jpmorgan dealt with the regulatory fine, now they know more of the rules, where to jpmorgan go from here, and how they manage that environment? >> since i don't agree with either one of them, we are going to end the segment. mike mayo, thank you. you know he will be asking a question or two, or as many as they let him tomorrow jpmorgan's investor day. bill cohanand bill cohan weighing in. why is tim cook racking up they are miles tomorrow? you think he's flying commercial? guess again. we will tell you why, stay with us. ♪ >> welcome back to "market makers," i'm stephanie ruhle. this hour, a big deal and big pharma. valiant pharmaceutical has agreed to buy felix pharmaceutical for about $10.1 billion in cash. they make drugs for stomach illn

jpmorgan chase ceo jamie dimon is investing money.lock after block of run down businesses neighborhoods once thriving, now mostly empty. it's a familiar story that's played out over 50 years. as the manufacturing and auto industries declined the motor city slowly shifted into reverse, but like its resilient residents, the city is ready for a gritty resurgence look for financial support including j p jpmorgan chase. jamie dimon is making move. >> jpmorgan is a piece of it. >> reporter: a large piece. last may jpmorgan pledged over $1 million. >> what made you decide this was an investment? >> consumer bank, small bank we're choosing to invest it here. we're also patriotic we want to see detroit revived, grow and start to thrive again. because more people and jobs cree yacht more customers for bank. $34 million has been dolled out. fix dilapidated bids build small businesses and build a street car. he met with local leaders and entrepreneurs at nonprofits. >> if you're a business you want to start. this is a great place to start. your e

jamie dimon. >> you made some provocative comments last week. you said the bank is under assault from regulators. >> i was referring to the fact that there are lots of different regulators. it's hard to deal with. we're going to deal with it. my job is to deal with it not to complain about it. >> jon: complaining about it is just my passion. ( laughter ) while some called for giant banks like morgan to be broken up jamie dimon would just like to let you know how hard something like that would be on us. >> a lot of my directors have mentioned to me that some of their companies were under some pressure to break up and thank god they didn't. the company itself was a port of safety in the storm. we will be a port in the next storm. and you want me to be a port. you want me to be here. >> jon: what's with the "few good men" ( bleep ). you want me on that wall street! you need me on that wall street! you can't handle the truth! well you can't afford it. it's really exprensive, the truth. of course, not all the financial institutions are defensive abou

i don't think jamie dimon set out to do the london will or anything. and everything else that jpmorgan is stuck with. these banks are way too big to manage. whether republicans or democrats will do is bank reform. melissa: they allow clients to withdraw bricks of cash and foreign currencies of little use in switzerland. >> who? melissa: hsbc? >> who at hsbc? the ceo? that's the problem. >> charlie's point is that even the smartest shareholder in the world couldn't possibly understand what's going on with the operations of a modern-day global bank. it's beyond understanding. what should happen is the shareholders should speak up and demand the banks are broken up and jamie dimon cannot -- he's the best manager in the world, he cannot manage jpmorgan. melissa: the federal government is way bigger. >> great point. exactly right with it comes to regulators. >> hits from brian williams anchor temporarily stepping down from nbc news and cancelling appearance on "the late show with david letterman." charlie promised twitter to defend the guy. >> i always foun

jamie dimon has all but basically said more regulation against the banks is un-american.ican to do this to our nation's banks. number 3 -- the u.s. justice department investigate the world's biggest banks from integrating prices of gold and silver. the justice department is probing 10 banks including j.p. morgan barclays and deutsche bank. >> finally. >> the gold bugs are ecstatic about this because they have been contending for years that there is a manipulation in the metals market. we don't know which way the manipulation was supposed to be happening. it might not be in the goldbug favor. >> it is a compensated story for a precious metal. the big is zero has construed to three of all time. it is like digital google how did jp morgan manipulate the market? 50 lawsuits in u.s. courts. betty: amid dropping oil prices opec says there is no plan to hold an emergency meeting. crude prices have dropped from a june peak after opec refuses -- one with a hold an emergency meeting after a collapse largely due to their own doing? >> if you were going to hold a meeting -- if you ar

just wrapping up moments ago as it usually does with comments from chairman and ceo jamie dimon.f the discussion concerned cost cutting, $2 billion in new cost costs, $2.8 billion at the investment bank as well as some new strategies to help tackle some of the massive amounts of capital need needed to support the bank's $2.5 trillion balance sheet. she's where a lot of criticism came. dimon told investors just because it may seem like that capital is a drag on the company right now doesn't necessarily mean it's a bad thing. >> we always had more capital than our competitor and always had more liquidity and yet there was always a disadvantage but i remember also being questioned why weren't we doing more in cdos and doing more in subprime and why aren't we doing more with all the people 345iking money making men. we're not going to follow the lemmings off the table. >> not going to follow the lemmings off the table so they're playing it safe dimon says. why is the stock undervalued? he thinks the market has it wrong. he says legal and regulatory uncertainty should ease over the ne

jamie dimon just increase the budget and they're very few organizations that spend that kind of moneyther hand, it's a stark illustration of when you get breached, who you have responding to the breach matters a lot in terms of law enforcement and how the attack is attributed. the amount of engagement you get from the government and what happened in this case was jpmorgan clashed with the fbi and secret service and tried to push the idea that it was the russian government behind the attack. ultimately the law enforcement community decided to go the other direction and that's a difficult position for both sides to be an. >> one of the things your story brings out clearly is that companies don't feel like they are getting enough help from the government, particularly from the white house will stop i wonder if what happened last week with the president's pronouncements about cyber security might change that? do you think there will be a thawing in that relationship? >> i don't think so. the bank is staffing up on a military and x intel. there's a lot of reason for that. they bring a lot

among the attendees was jamie dimon. interview he covered a wide range of topics from what to do with bad workers to washington's ineptitude. he expressed a concern young workers are being left behind in this economy. did you take a look at his remarks? >> i did. >> what did you think? >> the numbers are really astounding and quite negative but i'm wondering if columbus is the data point we're supposed to be looking at. you know ohio is smack dab in the middle of the rust belt which hasn't seen a lot of growth -- >> let's begin with what he said about young people. >> that -- i forget what the exact number but some unbeliever unbelievably high percentage of -- >> 12% of the region's youth population are neither in school nor working. >> that's disastrous. they can't get jobs. >> that's a lot of urban cities. you look at new york city. it's not just about ohio it's not just about the rust belt. i think this is an urban thing. >> is it much worse than it used to be? is there some sense 12% is pay higher. it would seem perh

take a look at this 100-caret yellow vivid dimon.d for $16.3 million last year at action but if you are in the market for this type of rock, or perhaps i could should say glacier, there is one place to shop, that is graff. the ceo is joining us. thank you so much for lending me this unbelievably gorgeous $9 million, 30-caret ring. it is hard for me to think while this is on my finger, but i like to know how strong is the market for a $1090 ring? henry -- for a $10 million ring? henry: surprisingly the market is strong, that is high-quality, very rare's stone. the quality not only in america but around the world. we have obviously clients all over the world, and when we get such a rare stone, which is obviously not that often, we know who to call, who to speak to. brendan: henri, sometimes i am amazed when people come on the show that there is a level of luxury so high that it not know existed, so graff is news to me. i apologize. other than olivia sterns, you usually do not put your stones on celebrities for stop why not? henri: we a

jamie dimon. >> does he know that? >> happy birthday, karen. >> does mrs. dimon know that?inal trade. >> this is a breakout for mcdonald's. news-wise, no. it has broken. >> dan nathan. >> macy's here at six and a half. i think a break above 65. the previous highs at 68. >> beakers? >> i think the financials are a little troubled here. i would sell them. maybe not short them, but definitely take some profit. >> dr. j. >> simon property group. we saw unusual activity in this name as well today. i bought it. i believe the stock could break up through $200 a share, and it's a 3% dividend yield. >> karen, i know you're not watching, but happy birthday anyway. i'm melissa lee. thanks for watching. see you back here tomorrow. meantime, "mad money" with jim cramer, that agains right now. make you money. i'm here to level the playing field for all investors. i promise to help you find it. "mad money" starts now. >>> hey, i'm cramer, welcome to "mad money." welcome to crimerica, i am trying to make you money, my job is not just to educate you but entertain you, tweet me @jimcramer. a

no cigar for the nasdaq 5000, but coming up a surprising potential successor for jpmorgan's jamie dimone gasparino coming on down here with the scoop. really, can he really be replaced? and let's get ready to rumble. after years of negotiations, floyd mayweather will face manny pacquiao in las vegas. but what kind of big bucks will the epic fight generate and for whom? hbo, showtime, we've got our own roster coming up. real experts to break down the numbers. ♪ ♪ there's nothing more romantic than a spontaneous moment. so why pause to take a pill? and why stop what you're doing to find a bathroom? with cialis for daily use, you don't have to plan around either. it's the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pre

dimon joe made a trip to drake university in des moines, iowa. i love the drake.decided we would take an extended look at what five and put on display and what a 2016 campaign from him might look like. there is some stuff in here that other candidates might want to learn from. the first thing is hearing biden talking about why democrats should give a full throated defense of the democrats economic record. >> we should run on what we have done, own on what we have done, stand for what we have done, acknowledge what we have done and be judged on what we have done, if we have any chance to continue our resurgence in 2016. some say that would amount to the third term of the president. i call it sticking with what works. >> there's joe biden. you know joe biden pretty well. you know he's very proud of his record of accomplishment. what do you think of that as political advice, not just a joke's pride -- joe's pride? >> i think if the affordable care act is intact, and if the economy keeps getting better joe biden is onto something. i guarantee you hillary clinton be ca

. >>> we'll talk with jamie dimon of jpmorgan chase who's making a million dollar bet on redesigningscenes of detroit. >>> and who could win this year's oscar. >>> that's the "cbs morning news" for this wednesday, thanks for watching. i'm alison harmelin. have a great day. -- captions by vitac -- www.vitac.com >>> your realtime captioner is linda marie macdonald. >>> good morning. it is wednesday, february 18. i'm michelle griego. >> we made it. >> hi, everyone. i'm frank mallicoat. it is nearly 4:30. how about a little traffic and weather? something a little different out of the gate. >> all right. >> i'll be the first to say that forecast yesterday went south. >> boy did it. >> it was the first time in a long time computer models totally missed it. it is a tricky forecast to say when the clouds will burn off. one thing is certain, it is another day with the king tides peaking. today it will be around 10:38 this morning nearly 7 feet. be mindful of minor coastal flooding. there you have the gray slate out the door temperatures in the 50s. the full forecast is straight ahead. >>> and

. ♪ >> compared to other wall street titans like lloyd blankfein and jamie dimon, bob benmosche is lessnizable, but you couldn't tell on the streets of old dubrovnik, where people came up to the ceo to take photos. >> can i take a picture with you? >> you can, but i am really nobody. >> while walking down the streets, he recalled the first time he took on the job with aig. when you first got your hands on the books at aig, what was going on in the company? what did you see? >> i did not look in the books. i had a pretty good idea of what was represented by what was in the books. because i spend a lot of time with jim milstein. jim was the restructuring executive who was handling this for the u.s. treasury. and i spend a lot of time with sarah dahlgren, who was also handling it for the new york fed. they told me about the financials. i questioned them about the financials. and my assumption was that they did their due diligence. >> when they briefed you on what was going on at aig and what they knew, were they better or worse than you thought? >> in line. the world thought they were wors

. >>> we'll talk with jamie dimon who's making a million dollar bet on designing the scenes of detroit and what could win this year's os skar. >>> that's the "cbs morning news" for this wednesday, thanks for watching. i'm alison harmelin. have a great day. -- captions by vitac -- www.vitac.com >>> good morning, everyone. a live look at outside as this morning wait until you feel the cold that is coming our way wye the the even of the week. the first though we have to deal with a little more snow heading our way this evening. live look at storm scan three, i'm ukee washington. >>> i'm quarter von tiehl. lets get a look at our forecast with meteorologist katie fehlinger. that winter weather isn't letting up. >> it really isn't. i do see some milder air but it will come with the trade off of a new storm it looks like. we have that to discuss down the road but for here and new looking live in atlantic city it looks like there may be snow on the boardwalk here but generally speaking things have quieted down in between systems and as you said there is a new round of snow

look at jamie dimon, he called -- un-american as suddenly said we better get on with it. suddenly been hit with a higher surcharge than people expected. what he was doing his chat completely used as saying, we keep going on with it. >> hsbc is a different beast because it's perceived as being more european. investors of what allow -- investors would allow for -- >> european businesses will be small and having that footprint in asia and less fashionable at the moment you can certainly come back. the sheer geographic split and the sheer business split. jpmorgan, apart from the united states. in a way, you could put it in a box and save investment banking we have to work about. stuart gulliver as we saw switzerland historically the hong kong property market and where to begin a china? and we are back in switzerland. the difficulty of running an enormous company. >> christopher wheeler. >> counting on draghi. varoufakis talked about how the ecb could help this country avoid a default. >> the manage heart to shaking up the airline industry. >> our twitter question. would you f

jamie dimon thinks that banks are under assault.bviously, over the past few years. you would leak stories that would mention ghosts of the past. catching up with deutsche some from acquisition, some from the investment bank at the time when you were there. are the ghosts now exercised from deutsche? or is this still an ongoing issue for you? >> we've made enormous progress in the last 2 1/2 years. capital ratio has doubled. we've taken the leverage ratio from the high 1s to 3.4. we've spent a lot of money on recap forming, on compliance, on internal regulation and so on and so forth. most importantly, we've had a program for change which we initiated 2 1/2 years ago. society bank's made enormous progress but i certainly wouldn't say we're about to declare victory anytime soon. this is a fundamental transition. which we always said was going to take time. >> you're one of the few banks that still wants to try to do it all. there are a lot of other banks started shutting assets because there's a lot more capital required for certain t

if are you one of these people underneath him and you are sitting underneath sxwramy dimon, you want to be ceo, you probably are better off looking somewhere else because that seat isn't opening up any time soon. >> duff thank you. great to see you again. always terrific to see you. we appreciate it. >> thank you. well, twilter is going after bullies. is buying a new car a bad move, and college recruiters pursuing the son of lebron james, who is 10 years old. should that be against the rules? the power rundown is next. there's nothing more romantic than a spontaneous moment. so why pause to take a pill? and why stop what you're doing to find a bathroom? with cialis for daily use, you don't have to plan around either. it's the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrate

we will go to robert in dimon, missouri. republican line and retired military. what is your take?aller: good morning, steve. i would like to let you know i think on this because i'm retired. this isis deal is serious. the people in the united states who do not like the united states, and they have something of the government, i do not know what it is. but it has something against our government and they're going over there, getting passports going over there and getting trained by isis. those people ought to be filed out -- found out. when they try to get back into the united states to do damage to the american people, for example -- one of those helicopters flying over the super bowl think what would happen if that stuff that kills people got them. steve, this is serious. these people over there, they want to wipe out the united states of america. they do not like us because we are for freedom. we stand for freedom. host: michael has this point. since the middle east supplies over 60% of oil used in the world, it is important to be involved there. jerome is next. caller: democrat

liz: they did that with jamie dimon. >> sounded like it was real for a minute. but it's wrong, and they're complaining to twitter. maybe paulson will yell at costelov. liz: he's a very nice man. >> i met him through scaramucci. liz: closing bell 25 minutes away, a slew of restaurant stocks are suddenly breaking out to record highs. today in particular, but doing well lately. why? is that extra gas money because gas is so cheap going into restaurants? it's restaurant week here in new york city. coming up, hospitality entrepreneur and brilliant chef charlie palmer here live to give us a glimpse of restaurant week. it's ash wednesday, people giving up biggest temptations for lent. what do you need to give up in your portfolio to clean that up? still ahead, brilliant market panel that's too brilliant. we'll break down what you should be giving up in your portfolio for lent to make it healthier? . liz: salivating over restaurant stocks, let's take a look. a bunch of them are rith record highs today. not just 52-week highs, record highs. just in time for new york city

jamie dimon said they'll double what they spend on cybersecurity. >> that's a huge problem for the united states. >> by the way, there's a link they're -- this time, it's cyber theft. but who says they're not in federal government computers right now, watching federal government officials, taking screen shots every 20 seconds? >> it's a great point. we should all be very concerned about that. charles, thanks so much. >>> not something you drive by every day. punches being thrown on a highway exit ramp. we'll tell you what this was all about. >>> plus, some of these potential 2016 contenders moving up now in our power index. well, some moving down, too. chris stirewalt will have the latest on who's fizzling and sizzling for the race in 2016. >>> and it's presidents' day. we have great presidential trivia throughout the show. here's the first question. which president kept a live alligator in the white house? the answer coming up. in my world, wall isn't a street. return on investment isn't the only return i'm looking forward to. for some every dollar is earned with sweat, sacrifice, courag

jpmorgan chase ceo jamie dimon out with advice on how to handle bad employees.for the whole story. back to the "halftime report." >> bet he's not nice. we'll look. taking on amazon, marc lore is the founder and ceo of jet, an e-commerce start-up that has its sights set on disrupting the amazon business model and joins us on set. hello. >> hi. >> what's the value proposition you have? i'm a prime subscribers to amazon. i buy nearly everything there for the simple reason that it gets shipped within two days for a very small fee and i don't like to have to go shopping anymore. convince me i shouldn't do that anymore. >> i'm not going to convince you you shouldn't do that, but the fact that you can basically buy anything on-line at the lowest prices, 10 to 15% below you'll find anywhere else. >> on your site. >> for $50 annual membership fee. >> i pay a $50 annual membership fee cheaper than paying for prime, do i pay shipping fees? >> free shipping over $35 and we have about 10 million products for sale on the website. >> are you warehousing this stuff. >> open war

morgan last month, jamie dimon said we spent $2 mist million no$250million now . >> they have to do moresentatives, 50% is spend on cyber security, helping customer get new credit card, and deal with this, it will be a big tax on all of the banks, but this has to go to fireeye, feye, it can only go up from here. cyber security, subsector of technology everyone should be in. charles: jim? >> no amount of money will protect firms from cyber attacks. increase is up about 200%. charles: so spend no money on it. >> no. but, more money will be spent, bigger is better, bigger companies will be able to protect themselves a lot better than the smaller guys. charles: interesting that large corporation have gotten away with it. sony now at 52-week high, target alall-time high. >> i got two phone calls and an e-mail today, i spent $57 at a gas station, was it really me? charles: my bank said my money is their money, i never worry. >> time for marchining orders, earnings are winding down. genuine parts, good year tire, and rail car report before the open. and word out of banker brusselsk finance mini

and i'm going to bring up jamie dimon because he's been vocal, really complaining about all the regulationnces of making money, and here they're doing exactly that. there's nothing wrong with making money, we are pro-capitalism here. >> well -- liz: i'm not pro-whining and complaining about regulation when you're smart enough to figure out a way. >> well, i think, listen, all these banks will make money. the question is do they fulfill their mandate which is to lend to small businesses and individuals that want to start businesses and, you know, whether they're giving enough mortgages out to people. that is where the credit crunch concern. liz: and not endangering the taxpayer into another bailout. >> right. that didn't really engager danger the -- endanger the taxpayer. i think what they're complaining about is when you handcuff them with so much regulation, they can't make that marginal loan to -- it's easy to loan to ge, ge or news corp. will always -- or 21st century fox will be able to borrow through the capital management firms. we have assets. the small business guy, can he get a lo

came out and said jpmorgan should break up its bank and would be more profitable that way, but jamie dimondea. -- has next that idea. betty: trading operations my beginning smaller but not the banks are getting smaller themselves. there was a report out that says the banks are getting bigger and smaller banks are shrinking. soros fund management. changing strategies, cutting its holdings in the u.s. stocks in the fourth quarter, shifting toward europe and asia. interesting that these guys kind of do the same thing at the same time. not only soros but david tupper. matt: even apparently, leon cooper. he says he expects big gains in europe and asia. this is good news for the global economy. even if the u.s. is no longer the biggest gainer as far as the indexes go it is in a good position so it will not be bad to have other regions help out a little bit. alex: i think that is what leon cooperman said. it is not that i'm bearish, it is that other reasons will -- other regions will out there the u.s.. betty: he has pointed out that the end of the bull cycle does not happen until after the fed r

data was stolen from hsbc and helped criminals, arms dealers, dimon traffickers evade tax. we are now getting news that apparently untraceable wads of cash were handed over to potential clients and switzerland. what was going on? chief executive stuart gulliver saying this took place in a different era. we have cleaned up and streamlined. he wanted to try to get across the changes he has made. but trying to shift the responsibility to the swiss managers at the time to the relationship managers at the time, even though he was himself finance director of hsbc when all of this was going on. he was the man behind the actual acquisition of some of the parts that became the swiss private bank. he was still blaming others and in part blaming swiss secrecy for the reason they did not realize any of this was going on. so much of it to begin with was front and center about stuart gulliver's own tax arrangements. this is why they dragged him in at the last minute and changed it from 45 minutes to two hours because he himself admitted on monday that he had his own swiss bank account an

jamie dimon and investors call yesterday came out against investors.rican to put so much regulation on these bank. he was a little bit more even toned yesterday. and fact, he said -- in fact, he said regulation would be better for the industry. what do you make of that? >> i was a little surprised by that, but it is not inconsistent with him. he will go through periods where he rails on the regulators and then he realizes that maybe we are moving. betty: maybe he gets a phone call. >> he might get a phone call. if you talk to any of the ceos privately, they will just tell you that this is the toughest environment that they have ever seen. it is not constructive to the u.s. economy. betty: the other thing that struck me was about the stock and evaluation. he said that investors are not appropriately evaluating the stock of jpmorgan. do you agree? >> have you ever seen as ceo that has said are stock is fairly valued? i'm not met one yet. betty: is it a legal fee discount? is that what we are talking about here? >> i think it is the uncertainty. we do not

tom: shares of jpmorgan -- buy me jamie dimon.t harder to steal than my cyprus bank account. i am not going to come in some morning and have a haircut of 10% or 15% on my manhattan condo. tom: i want to flip it here, i heard this from jim polson at wells capital, and everybody is on board the american blue chip wagon. you say there are international companies, foreign companies i need to be bought. are those blue chips as well? jason: i think they are. europe and japan look attractive to me. the only problem is part of the plan is to weaken the currency in europe and japan. you have to be careful. if you can hedge the currency, i would say on a non-currency-adjusted basis i would argue that european and japanese equities might outperform the u.s.. if you are not worried about the currency, i have a feeling international shares might out form the u.s. tom: jason trennert with us. let's get to olivia sterns. olivia: coca-cola results -- coca-cola caesar u.s. currency headwinds to knock about five points off now revenue. adjusted ear

tom: i'm fascinated how you represent jamie dimon or mr.t bank of america and you also represent the bank of oklahoma. have you ever seen banks as far apart as they are right now? or is this just andrew jackson as usual? governor keating: of the top banks in the world, we have four, maybe three. the of -- the rest are all easily other countries. my big view is let the big guys compete overseas, that is great, kick ass take names overseas. oklahoma, a $26 billion bank lot bigger than the $10 billion threshold, let them make the ag loans and a small business loans will step i think, vision as healthy as good, but some of the community banks tell me this 2% to 20% of their operating income is used for the purpose of responding to compliance. think about here in new york, if you want into a restaurant and 50% of the uprooting revenue of that restaurant was to satisfy the new york health department. there would be people in gloves with some thermometers. the small banks are merging and being acquired because they are frustrated. brendan: i know

keep going back to jamie dimon saying regulators are all over them, one of the reasons -- that stockent down -- it's bouncing but they need rates higher. i just think that that group's so far behind the market. bank of america quarter wasn't good citi quarter wasn't good jpmorgan wasn't that good. >> as far as leaders today, it's transocean, eog, anadarko halliburton. >> 50 was the level where people feel like it's bottom. watch eog that had the best product profile. anadarko conference call didn't matter whether they had a big miss. people want to own the group. when they want to own the group, there's a lot of fire power on the sideline. i think it's kind of -- it's a little counterintuitive the majors are saying there's no bottom. at the same time look at declines in the stocks. declines have been stunning. and they're not going under, these guys that they're buying. they're not. >> airlines getting a taste of it another day here. >> got to be careful with those because they didn't go up when they reported last quarters and now they got the fuel costs, hedges are off, really -- lo

jamie dimon says you want 4 billion number you want the ten-year higher . >> i spoke to him yesterday>> we chatted. he does believe that like a lot of people rates are going move up during the course of the year. are they going to move up sharply? i didn't get a rate call per se -- >> but you got a phone call, more than the rest of us. >> things are going to improve. >> well one thing -- >> and things are good. the u.s. economy, not that bad around the world. >> if you're one of the 770 million people in europe why would you want to earn their bonds when you go to our bonds? that's the problem. >> home depot's going to open up almost 5% on the call. just asked whether or not they would respond to walmart's minimum wage hike. response, we pride ourselves on paying above the market wage we'll adjust as necessary. >> come on! home depot has always rewarded. there was a moment where the prepare ceo where there were cuts made. blake changed that. and the new -- the home depot that has happy employees, which you know when you go to home depot, by the way, and i buy all of my plants at home

most important things we can do to deal with our debt and deficits is to ensure we have a strong, dimonic, growing economy. and we're not going to have a strong dynamic, growing economy if we're going to chip away at the kind of investments that we know are critical to the success of middle-class families. so making the kind of investments that we know are going to be good for a dynamic growing economy are going to be good for debt and deficit reduction down the line. did i get that right? >> absolutely. >> do i at least get a pass? >> yes. >> okay, dave. >> thanks josh. and forgive me if this was already asked and answered. but the budget proposes to cut the veterans choice card program and take some of that money and move it elsewhere in the v.a. system. can you explain that? is the choice card program not as needed as it was just last year? >> there is not a proposal to cut it. i think that's a mischaracterization. as we were looking at the projections for the v.a. going forward, recognize that this choice program is a brand-new program. for those not involved in the details, the choic

. >> you don't think there's an argument to be made that these firms do -- jamie dimon would say if youwith the great big multinationals you need the scale of a big bank. >> it's an argument about scale economies against financial stability. what i'm saying is if you had a lot of smaller firms, a kind of a milieu of smaller firms you wouldn't have the scale factor but you'd be able to have more regulation. and i think the u.s. could run away with financial services in the future. if any of those guys get in trouble, you could let them fail. you don't have to worry they will crush you. >> we talk to people like will burg ross. banks under a billion dollars were getting snapped up left and right. because they couldn't keep up with the regulatory requirements. it just didn't make sense. >> that's because dodd-frank is cascading down to smaller firms that had nothing to do with the crisis. so that's been an ongoing issue and problem with dodd-frank. but what i'm saying is if you would have smaller firms, let's say 20 or 30 of them instead of five of them then they can innovate. if they do s